The importance of cryptocurrency in today’s world is huge. When the cryptocurrencies arrived, they caused some sort of industrial revolution. Businesses around the world started to do business differently. Because of that, investing in any crypto requires education and improvement of skills.
This is the first step that you need to make. There are many websites such as de.immediate-bitcoins.com that can tell you a lot about Bitcoin and other currencies. If you are a beginner, then we suggest you start there.
Anyway, one of the common questions that people ask is – how to cash out cryptocurrency. It seems complex in the first place. Fortunately, things are easy and you have several different options.
In this article, we will highlight some of the most popular cash out methods. Yet, we won’t tell you which one of them is best because we do not have an answer to that. We will let you do your own research and see which method will satisfy you the most.
Well, we will start with the most popular method of cryptocurrency cash out. The crypto users mostly use cryptocurrency exchanges as the cash out method. In most cases, there are certain limitations on how much you can exchange without verification. Yet, this doesn’t necessarily need to be a disadvantage. If you are a beginner, then you surely won’t be able to exchange larger amounts of money.
The entire process of making an account is quite easy. First of all, you will have to link or debit card. Besides that, you can connect your bank account directly as well. After that, you deposit the amount of crypto that you want to exchange. You can pick the currency, however, there are some limitations here. Crypto exchanges do not offer all the currencies in the world. In most cases, you will find options for the most popular currency such as the dollar and euro.
Well, with Coinbase, things are even easier. Let’s imagine that for some reason you urgently need money. It is good to know that only a small number of exchanges will offer you that service. In most cases, you will have to wait for a couple of business days.
Still, with Coinbase you won’t have that type of problem. It is the fastest and easiest way to transfer money to your bank account. More precisely, you will have instant access to the funds that you have exchanged.
We want to mention 2 more important things about this method. First of all, Coinbase accepts users from 30 different countries. Yet, you need to be registered as a US client with a bank account in that country.
Besides that, the number of currencies that you can exchange for money is not small. You can exchange Litecoin, Ethereum, Bitcoin, and Bitcoin Cash to US dollars.
Well, we will move to Europe for a second. This go-to exchange is located in Luxemburg. It is a popular place for many crypto investors that have deep pockets. Just like Coinbase, this exchange offers crypto exchange to fiat currency. Yet, you will have to provide more pieces of information.
Yet, this should not worry you a lot. Whatever you do, you will have to give certain pieces of information. When you make a Facebook or Instagram account, you also share many pieces of information, right? Well, why should you do the same and get money for that?
This exchange works with people outside of the US. We are sure that many people from Europe and Asia are happy when they hear this. You can exchange a couple of different cryptocurrencies such as Litecoin, Ripple, Ethereum, Bitcoin, and Bitcoin Cash for money. You can transfer them to Euros. Still, they also collaborate with people from the US. Us citizens will be able to cash out their crypto for dollars.
bitFlyer is one more exchange that covers three different continents with its services – Asia, America, and the EU. Many times has happened that this exchange was the largest trading hub for BTC. You can transfer crypto into fiat money and deliver it to your bank account via wire transfer.
Still, you need to go through a “verification” process. First of all, you need to have a valid bank account. After that, you need to provide ID as an identity proof.
The exchange itself is based in Japan. People outside of the US will have the opportunity to choose between different fiat currencies.
Gemini is one of the first exchanges that god a license to exchange crypto for money. However, there is one small limit that you need to know. This exchange only offers services for 2 cryptocurrencies – Bitcoin and Ethereum.
Okay, there is another service that some people might not like. Gemini only collaborates with people that are US citizens. More precisely, they only support US bank accounts.
Still, two transfer options will satisfy many US
Users – ACH and wire transfers. With ACH transfer, you will need to wait up to 4 business days to get your money. Yet, with a wire transfer, the money will come to your bank account in a day.
Gemini only supports fiat conversation and transfer for personal accounts. That’s why people that have a joint bank account should know one thing. Each person that uses the account has to be listed on the Gemini account. That is the only way to cash out any cryptocurrency.
Bonus Tip: Try Local Services
Many crypto users get surprised when they find out how many people around them would swap their cash for your crypto. This especially counts if you live in the urban areas of the country. The process can be quite easier for you. You transfer your crypto to their account while they transfer their money to your bank account.
Still, collaborate only with those individuals that offer some sort of protection for both sides. That’s why you should use some of the platforms that are P2P crypto marketplace.
One of them that we can suggest are localbitcoins.com. This platform serves as an intermediary between the buyer and the seller. Through this platform, you can agree on all the important details.